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FESX Trading Journal Using GOM Indicators


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FESX Trading Journal Using GOM Indicators

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  #91 (permalink)
Prague Czech Republic
 
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Back after a short pleasant family break, I can see not much change. The market is stuck in a longish range with light volume (though the last trading day showed a bit of an increase).

We jumped off the low of the range (2400) - obviously, such a nice round number , also maybe because the ceiling created by sell limit orders was eaten up by the markets orders. So this attempt to drive the market lower was not successful. We are now back in the middle of the range.

Important buying/selling zones are 2400, 2417, 2450, 2463.

Happy trading.

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  #92 (permalink)
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Light volume (obvious - US public holiday).
Rally heading to the longer timeframe range high (2500). Selling activity evident when nearing the top, however only light for now.

Important zones remain almost intact:
2433
2450
2463-66
2480
2500

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  #93 (permalink)
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It is almost midday.
Balanced trading, signs of limit selling vs. market buying from the morning. Now trading below value from previous range (2469).
Limits may mean covering the longs. No decisive action seen yet.

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  #94 (permalink)
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We are back down from ex POC (2466) at the current POC (2433). This POC is very strong since it has already been a POC before (August 7-17) so we might as well travel down to the range low (2400). Today, I would expect further fall down towards the range low, however, there will probably be a bit of a fight near the POC. (If I traded ), I would follow what limits and markets were doing to determine the balance or imbalance.

Happy trading.

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  #95 (permalink)
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Balanced and neutral day yesterday with a small selling tail, more limit selling at the EOD as well as generally more limit selling throughout the current range (2400-2470). From the long-term perspective it could mean a way down, however we still need some more volume to get below the current POC (2435-38) (we are now above). The preferable direction is down.
The area 2431-2438 is full of volume. It will need a lot of initiative selling to get through. We will see if we get it in the coming day/days.

Zones:
Selling:
2453
2466

Buying:
2435-38
2421
2431

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  #96 (permalink)
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Keep up the good work sir !

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  #97 (permalink)
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Trend day yesterday. Seeing the movement after posting my PMA I would not dare go short (if I traded...), though mentally I doubt I would be able to jump on. I have still a lot to learn about handing uncertainty and risk...

Yesterday, the LTF POC proofed to be a strong support with enough volume preventing the fall. And also here goes the saying "If it ain't go down, it will go up."

We are at the LTF range high with market as well as limit buy orders volume twice as large as last time at this price. This may indicate some still strong upmove. So if there is any weakness in the up move, it should be halted strongly enough and would need much much more volume to go down. Or a complete change in the mood.

2550 is a strong support changed into resistance from last year, also some profit taking will surely happen. I would assume some balancing today.

Happy trading.

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  #98 (permalink)
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Friday was a break-in-trend day after an upmove, also after a hit of strong resistance (high of a very long-timeframe range). Despite that markets were buying the whole day, limits were strong on the sell side and the markets could not hold the market up despite of heavy trying. It was probably not "ceiling eating" but limits selling at constantly lower prices.

The fight is not over, there is a strong support now at 2524-29 and 2500(-2510). There we will see who currently wins.

Happy trading.

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  #99 (permalink)
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Limits kept selling and markets kept trying to hold the price by buying but without much success. We closed below previous LTF VA high which now can be a strong resistance. If the market is not able to push through it up again, we are heading down.

Important zones:

Buying
2506-2510
2493

Selling
2529-2530
2544

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  #100 (permalink)
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Price is now ahead of value, finally there was a clear sing of "ceiling eating" with the markets able to move the price higher. We will see if there are any more sell limits up there or if they finally give up and start buying, too. The overall volume is not very large but there is no convincing responsive selling at the top of the newly formed short time-frame range.

Important zones:

Selling
2600-2606
2576-2580
2558-2564

Buying
2545-2547
2530

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